The Central Bank of Nigeria (CBN) said it would soon commence comprehensive review of electronic payment guidelines in the country. Deputy Governor,…
Category:
Economy
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–$73 crude benchmark, too optimistic —falling oil prices not responsible for deteriorating economy —Expect tough times ahead —Nigeria has done many things…
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—raised lending rate to 13 per cent —increased private sector cash reserved to 20% —Retain public sector cash reserve at 75% The…
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BusinessEconomyFinanceNewsStock Market
Foreign investors pulled $584m out of Nigeria’s stock market in October
Foreign investors sold off Nigerian stocks valued at 101.2 billion naira ($583.6 million) in October after a drop in the oil price…
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The Minister of State for Finance, Mr Bashir Yuguda, on Tuesday announced that federal, states and local governments had shared N593.33 billion…
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Two Nigerians, Tony Elumelu and Orji Uzor Kalu, along with four other Africans have joined Forbes list of 50 richest people in…
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The declining fortunes of the naira continued as it suffered 182 kobo depreciation at the foreign exchange auction conducted by the Central…
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The Naira fell by 200 kobo Tuesday, as the parallel market exchange rate rose to N180 per dollar from N178 per dollar…
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Transactions at the Nigerian Stock Exchange (NSE) ended on a negative note on Tuesday as the market indicators recorded 1.62 per cent…
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BusinessEconomyFinanceNewsOil and Gas
FG signs MoU with 9 oil companies to supply gas for power generation
The Federal Government in Abuja signed a Memorandum of Understanding (MoU) with nine oil companies for the supply of gas for power…
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EconomyFinanceNewsOil and Gas
Nigerian banks raised $3bn acquisition finance for power industry privatisation
The Managing Director of Stanbic IBTC, Mrs Sola David-Borha, said that some Nigerian banks had raised three billion dollars (N465 billion) as…
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President Goodluck in Abuja said that the Information and Communication Technology (ICT) sector had contributed 10.56 per cent to Nigeria’s Gross Domestic…
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BusinessEconomyFinanceNewsStock Market
UK Emerging Capital Market Task Force visits Nigeria market operators
In the wake of volatile global market, Nigeria continues to attract significant foreign investors interest, the recent being from United Kingdom who sent…
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The Central Bank of Nigeria, CBN has offset the N36.9 billon legacy debt owed to gas suppliers by the power sector under…
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Nigeria’s foreign exchange reserves fell 3 percent in two weeks to $37.59 billion by Nov. 13, as the central bank stepped up…